Concerns over the World Trade War continue to put pressure on traditional and cryptocurrency markets as investors support the announcement of potential tariffs from US President Donald Trump on April 2.
Trump first announced import duties on Chinese goods on January 20th, his inauguration as president.
The fear of global tariffs has led to increased inflation concerns and limits investors’ appetite for risky assets. Bitcoin (BTC) fell by 18%, while the S&P 500 (SPX) index fell by more than 7% in the two months after the initial tariff announcement, according to TradingView data.
“Now, April 2nd will be attracting attention as a potential flashpoint for the US fresh tariff announcement,” Stella Zlatareva, dispatch editor at Nexo at Digital Asset Investment Platform, told Cointelegraph.
S&P 500, BTC/USD, one-day chart. Source: TradingView
Investor sentiment was hit another hit on March 29 after Trump forced his senior advisers to take a more positive attitude about import duties.
The April 2nd announcement is expected to detail mutual trade tariffs targeting US trading partners. The measure aims to reduce the country’s estimated commodity trade deficit of $1.2 trillion and boost domestic manufacturing.
Related: Bitcoin hits $110K before $76.5K “more likely” – Arthur Hayes
Bitcoin ETFs and whales continue to accumulate
Despite the increasing uncertainty, the large Bitcoin holder known as the “whale” continues to accumulate between 1,000 and 10,000 BTC.
Addresses in this category are stable, ranging from 1,956 addresses from the beginning of 2025 to 1,956 addresses from January 1st to over 1,990 addresses from March 27th. This is still below the 2,370 address peak of the previous cycle recorded in February 2024.
Whale address count. Source: GlassNode
“The risk appeal remains calm amidst the threat of tariffs from President Trump and ongoing macro uncertainty,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph.
“Even so, the accumulation of BTC by whales and the 10-day ETF inflow streak points are steady institutional demand.
Related: $1T Stablecoin Supply Can Drive Next Crypto Rally – Pakman from Coinfund
The US Spot Bitcoin Exchange Trade Fund halted its 10-day accumulation streak on March 28, when Fidelity’s ETF recorded $93 million worth of outflows, but other ETF issuers did not register inflows or outflows.
Bitcoin ETF flow. Source: Farside Investors
Despite concerns about short-term volatility, analysts remain optimistic about Bitcoin’s price trajectory for the second half of 2025, with price forecasts exceeding $160,000 to $180,000.
https://www.youtube.com/watch? v = gnunx0qw3q
Magazine: SCB Tips $500K BTC, Sec Delays Ether ETF Options, etc.: Hodler’s Digest, February 23rd – March 1st
